Teuton Resources Corp.: 2014 Exploration to Focus on Search for Porphyry Copper-Gold Deposits on High Property
March 06 2014 - 7:30AM
Marketwired
Teuton Resources Corp.: 2014 Exploration to Focus on Search for
Porphyry Copper-Gold Deposits on High Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 6, 2014) -
Teuton Resources Corp. ("Teuton")
(TSX-VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to report
plans are being developed for 2014 exploration on its High
property, located 50km north of Stewart, British Columbia in the
Golden Triangle. The Company intends to carry out extensive
reconnaissance surveys over the large High property to be followed
up with drilling of identified targets, contingent upon obtaining
necessary permits and financing.
In 2013 the BC Geological
Survey carried out investigations in the region of the High
property, culminating in Paper 2014-1, pp 111-140, by J. Nelson and
J. Kyba, entitled "Structural and stratigraphic control of
porphyry and related mineralization in the Treaty Glacier - KSM -
Brucejack - Stewart trend of western Stikinia". This work
focused on the McTagg anticlinorium and its relation to the many
deposits which are presently being developed in the area. All five
of the deposits on Seabridge Gold's KSM property-the Iron Cap,
Mitchell, Sulphurets, Kerr and Deep Kerr-are thought to be related
to the Sulphurets thrust fault, a major structural feature
traversing the KSM property. Notably, the BC Geological Survey has
now extended this fault southward about 8 km into Teuton ground
(see map). This highly prospective feature will be one of the
principal focuses of the 2014 reconnaissance work.
Nelson and Kyba state that:
"The Treaty Glacier-KSM-Brucejack-Stewart trend is one of the most
productive and promising in northwestern British Columbia".
Exploration carried out over the past ten years in the
KSM-Brucejack portion of this trend resulting in the discovery of
many large mineral deposits confirms this statement. The Mitchell
deposit is a behemoth with proven reserves of 473 million tons
grading 0.67 g/t gold and 0.17% copper, and probable reserves of
935 million tons grading 0.57 g/t gold and 0.16% copper. Seabridge
Gold very recently released an inferred resource estimate for its
new Deep Kerr deposit of 515 million tonnes grading 0.36 g/t gold
and 0.53% copper. Just east of the Sulphurets fault and lying
alongside the Brucejack fault is the very rich Valley of the Kings
deposit of Pretium Resources. It boasts 1.2 million ounces of gold
in the measured mineral resource category (two million tonnes
grading 19.3 g/t gold); 7.5 million ounces of gold in the indicated
mineral resource category (13.4 million tonnes grading 17.4 g/t
gold); and, 4.9 million ounces of gold in the inferred mineral
resource category (5.9 million tonnes grading 25.6 g/t gold). All
three of these deposits are world-class in stature.
Teuton has done minimal work
to date on its very extensive High property, bordering to the
immediate south of Pretium's Brucejack and Seabridge Gold's KSM
properties. A one-hole drilling program undertaken in 2012 on the
newly discovered King Tut zone located just south of the
Pretium-Teuton border resulted in an intersection running 222m of
0.88 g/t gold. This intersection compares well with the average
intersections obtained in the first ten holes drilled by Pretium
into their Bridge deposit, located less than 2km to the north.
Numerous gossanous zones lying just to the southwest of the King
Tut (on Teuton ground) remain to be fully investigated.
A literature search conducted
over the 2013-14 months has disclosed details of an old prospecting
traverse on Seabridge Gold's ground located a few hundred meters
north of the common boundary between the KSM and High property (see
map). Rock geochemical samples taken along this traverse carried
anomalous copper values of the same magnitude as those found over
what is now the Kerr deposit and may possibly indicate the presence
of another porphyry system. Teuton plans to investigate this area
in 2014 for potential extensions of the suggested porphyry-type
mineralization onto its High property.
All zones of gossanous rock
located on both sides of the southward extension of the Sulphurets
fault are to be investigated. A cluster of these occurrences lies
along the highly altered Orion nunatak completely controlled by
Teuton claims. Past work has identified high-grade gold values in
one part of this nunatak (Cat-in-the-Hat showing). To the east, in
the area of the High South target, further work is planned on an
area where chalcopyrite mineralization was found in 2011.
Prospecting in this area uncovered gold values ranging from 0.74 to
47.8 g/t gold. The area was not drilled due to an overhanging
glacier which may now have receded enough to carry on additional
work.
Plans for further work on the
porphyry copper-gold Tennyson claims (adjoining the High property
to the south) upon which Brigade Resource spent up to $4 million in
2013, will be announced when and if legal documents arranging for
its return to Teuton have been completed.
In other developments, the
Company has recently been notified by Redhill Resources that it
will not be continuing with its option on a portion of the Yellow
Chris claims, located in the Red Chris area east of the town of
Iskut.
The Qualified Person for the
purposes of this news release is D. Cremonese, P.Eng., who, as
President and CEO, is not independent of the Company.
To view the map accompanying
this press release, please visit the following link:
http://media3.marketwire.com/docs/931695.pdf
Respectfully: |
|
"Dino Cremonese, P.Eng." |
|
President, |
Teuton Resources Corp. |
If you would like to be added
to Teuton's news distribution list, please send your email address
to gary.teuton@shawlink.ca.
This news release includes
certain forward-looking statements concerning the future
performance of our business, its operations and its financial
performance and condition, as well as management's objectives,
strategies, beliefs and intentions. Forward-looking statements are
frequently identified by such words as "may", "will", "plan",
"expect", "anticipate", "estimate", "intend" and similar words
referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management.
All forward-looking information is inherently uncertain and subject
to a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks and the
availability of financing, as described in more detail in our
recent securities filings available at www.sedar.com. Actual events
or results may differ materially from those projected in the
forward looking-statements and we caution against placing undue
reliance thereon. Teuton Resources Corp. does have an ongoing
obligation to disclose material information, as it becomes
available.
The
TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
Teuton Resources Corp.Dino Cremonese, P.Eng.President(604)
682-3680 / Toll Free: 1-800-879-2333www.teuton.com
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